CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner s Report Report to the trustees Penryth Pr&School Nursery & TIKldler Group On accounts for the year ended Charlty no (if any) i 525136 28 FebNary 2024 Set out on pages I report to the trustees on my examinalKin of the accounts ol the above charity Dhe Trusl") for the year ended 2810212024. ResponsSbllltles and basls of report As the tharitys twstees. you are responsible for the preparation of the accounts in accordance with Ihe requirements of the Chantles Act 2011 (Ihe Act"). I report in respeci of my examination of the Trust's accounts carried oui under s8Ction 145 of th& 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commisslon under sectlon 145(51(b) ol the Act. Independent I have completed my eXamInat￿n. l cwfirm that no malerial matters have axamlnerfs statement come lo my attention in connection wilh the examlnalion whlch glves me cause to believe thal in, any material respect.. the a¢￿untIng records were not kept in accordance with secAion 130 of the Charities Act.. or the accounts did not accord with the accounting r8cords', or the actxtunts did not comply with the applicable requirem8nt$ conceming the fom) and content of accounts set out in the Charities (Accounts and Reports) Reguktions 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concems and have come across no other mallers in connection with the examination to which attenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reachèd. Slgned: Date: I lo Name.. Jackn"e Fisher Relevant professlonal quallficationls) or body lif any): Address: Charfesville, Station Hill. Wigton, Cumbtia CA7 9BW IER Oct 2018 Section B Disclosure Only complete if the examiner needs lo highlight material matters of concern (see CC32, Independent examination of Qharrty accoLsnts'. directions and guidance for examiners). Give here brief details of any Iterns that the examiner wishes to dlsclose. IER Oct 2018 PENRITH PRE-SCHOOL & NURSERY r+tC"OME-&-EXP"ENDrruR"E-ACCOUTriT-F"OR THE YEAR ENDED 29 FEB-RUARY 2024 (STATEMENT OF FINANCIAL Acfiii￿EsI 2023 INCOME 2024 2023 EXPENDrruRE 2024 71,728.￿ Nursery Educatlon Grant 6,889.81 Pre-school Fees 1,062.50 Tod(Jler Group Fees 5,159.00 Other Grants 179.40 Nursery Tax Credlts 21.90 Donations 0.00 Sponsored Events 452.45 Raffles 0.00 Photograph Commlssion 109,335.11 9.547.50 497.25 7,811.16 1,444.80 0.00 0.00 535.00 198.60 67,082.66 Wages & Floats 9,108.05 PAYE & Nest Pension 5,250.00 Rent & Buildlngs Insurance 1,159.80 Insurance & PSLA Membership 3,830.91 Utility Costs. Gaslelectriclwater 1,639.08 Play Resources including EYPP 265.31 Premises Resources 2.729.66 Repairs & Decorations 18.09 Milk 72.951.21 9,104.70 6.550.00 1,194.18 4.316.45 1,543.84 -124.62 3,776.10 0.00 Ikiipi 0.00 Spring Fund Raislng 0.00 Summer Fund Raising 0.00 Christmas Fund Rabsing 112.00 Recycling of items Iphoneslclothinyjgadgetsl 451.00 Skipton Interest 23.60 Ukraine Crisis & Children In Need NMRU Milk refund 286.91 Refreshments 216.32 Stationery 1,309.95 CleaninglToiletries/lst Aid 97.25 Fund Raising Costs 2,404.30 Postage, Telephone & Internet 45.96 Advertising 1,013.12 Subscriptions 261.65 Sundries 150.00 Coursesnraining resources 46.89 DBS checks 203.27 108.26 1.229.72 206.86 2,273.86 0.00 959.62 328.90 150.00 242.56 85.20 969.65 20.03 10,836.25 Excess Expenditure Excess Income 25,914.51 96.915.91 130,686.86 96,915.91 130,686.86 Statement of Flnancial aCti￿tIeS Independently examined and found satisfactory accordin8 to the information presented: l Fishèr Date: PENRITH PRESCHOOLAND NURSERY STATEMENT OF FINANCIAL POSITION BALANCE SHEET AS AT 2 FEBRUARY 2024 29-Feb-24 28-Fèb-23 CURRENT ASSETS Investments Cash at bank and in hand Total CurrentAs5ets 32,507 48,500 31,537 23,55S 81.007 55,092 TOTAI NET ASSETS 81.007 5S.092 FUNDS FTHE CHARITY BalaA¢e brought forward Transfefi of Fund5 Excess IncomelExpenditure 5S,092 65,928 25,915 10.836 Totsl Funds 81.(KJ7 55,092 Statement of Financial Position independendy èxamined found satisfactory accordlng to Information presented J Flsher Date- Penrith Pre-school Nursery and Parent & Toddler Group The Old School, Meeting House Lane. Penrith, Cumbria CAII 7TR 1017681890272107570294239 enrith Email- ￿￿reschOol hotmail.co.uk Website- www.penrithpre5choo1.co.uk Charity number 525136 Contact Joanne Spedding for more details LEARNING ALLIANCE RESERVES POLICY- 2023-24 going into 2024-25 Charitable status requires or8anisations to spend income on charitable objectives and not build up funds for a rainy day. However, the Charity Commission does recommend that to maintain financial stability all charities should hold reserves at a level to cover any unforeseen circumstances that might arise and to ensure that the Pre-school's core activity can continue, or to retain funds for planned specific projects. At Penrith Pre-school Nursery we consider that- In the event of event of permanent closure. we could need enough reserves to cover staff redundancies and comply with current employment legislation. This is currently £24,824.33. If we had to close temporarily due to natural disaster, or move due to building works etc, we would need 3 months to find alternative accommodation and arrange Of5ted registration, but we could potentially open in alternative accommodation for under two hour5 a session. To cover this period, we consider that we need to hold three months operational expenditure, to include rent, staff wages, insurance, supplies etc. This is calculated based on the average expenditure of the previous yearfs accounts. Total expenditure 202312024 = £104,772.35 so 3 months is calculated as £26.193.09. The total Reserves Policy is calculated as £24,824.33 + £26,193.09 - £51,017.42. The Committee will review and amend the actual Reserves held annually and update accordingly. As of 29 February 2024, the charity has a total of £32,506.59 set aside in its Skipton Building Society account as its reserve. This means we are £18,510.83 short of this target. Since 29 February we have enjoyed the benefit in the rise of per capita head from April 2024 and increased child n Ltmbers in the nursery allowing us to set aside from our main bank account a further £30,000.00 making our Skipton saving5 balance £62,506.59 which is more than sU￿1clent to cover our reserves balance. This policy was adopted at the Committee Meeting of Penrith Pre-school Nursery held in September 2024. This will be reviewed in 2025. Signed Date ... 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